NOV.16,06
NIFTY OUTLOOK - TECHNICAL ANALYSIS
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Indicators show positive signs for NIFTY. It may test yesterday's high (3888.80) and low (3838.25).
NIFTY has to correct considerably in order to maintain healthy momentum. But such a correction is not in the offing(short term).

High PCR OI suggests bullishness. Even implied volatily doesnot indicate any chances for a deep correction.

3711.05 is likely in the short to medium term.

Immediate support lies at 3820.85 and 3804.80.

Today's upper band lies at 3898. Today's lower band lies at 3628.85.

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Support Levels:
3712.60
3671.86
3597.93
3477.46
3371.13
3325.21

Note: These views do not have any relevance to NIFTY futures.

Stocks to Watch(SHORT TO MEDIUM TERM)

PNB TARGET 580. STOP LOSS 520.